Bad Debts of Vietnam Banks Low at 3.5 per cent, Equity Grows 30 per cent in 2008
Governor of the State Bank of Vietnam, the country's central bank, Nguyen Van Giau has said in a statement reviewing banking activities in 2008 that non-performing loans of banks and credit institutions in Vietnam have accounted for 3.5 per cent of the total outstanding loans of the entire banking system so far this year.
Giau noted that by the end of 2008, equity of local banks has jumped 30 per cent and capital safety ratio is up to 9.7 per cent from 8.9 per cent.
Credits for private sector have soared 37 per cent on year, for state-owned sector surged 12 per cent, for exporters increased 37 per cent, for production sector jumped 34 per cent, Giau said.
The SBV will adopt flexible monetary and fiscal policies to avert recession, complete the legal frameworks in line with strategies of the local banking sector and roadmaps with international commitments for 2009, Giau added. (SBV)
Vietnamese
